Disadvantages of For Sale by Owner Transactions

A property owner may have a vast amount of information about his or her home’s specifications. However, knowing about one’s property and closing a deal are two completely different things. Many homeowners falsely believe that For Sale by Owner transactions are the best option. They may choose these kinds of transactions in order to maximize profits, to minimize expenses, or because they think it will be easier.

It is statistically proven that the vast majority of houses in Laval were sold with the assistance of a professional real estate broker generate more significant profits. These profits are usually more than sufficient to cover commissions and pocket additional money. The National Association of Realtors declared in their 2013 Profile that “For Sale by Owner (FSBO) transactions accounted for 9% of home sales. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales, a difference of $46,000 – or an addition $32,200 after agent commissions.”

For sale by owner

Disadvantages of For Sale by Owner Transactions

There are many disadvantages to not working with a professional real estate broker. Here are a few to consider.

Buyers working with brokers will sometimes avoid placing offers on For Sale by Owner homes, which narrows the pool of potential buyers.

Most For Sale by Owner success stories involve buyers and sellers that previously knew each other.

What You Want to Know About Motorcycle Insurance

If you own a motorcycle or other type of motor bike, it’s important to get proper insurance to protect you from all the risk and general liability that your bike is naturally exposed to. A real advantage to getting coverage from a reliable company is that you can reap the benefits of money-saving bundling offers by acquiring more than one policy from one source. Leading underwriters also may offer money-saving on your motorcycle policy premium if you:

• Store your bike in a garage or shed
• Are a member of a specified motorcycle rider club or group
• Have completed a safe motorcycle riding course that has been sponsored by a
motor bike safety foundation

Although the average auto insurance policy does not include motorcycle coverage, it is relatively easy to secure a tailored plan – one that covers the important aspects related to motorcycle usage – through an experienced independent agency that has direct dealings with the major national companies.

Among the various forms of coverage opted for by motorcycle riders like you are the following:

– Bodily injury liability insurance
– Property damage insurance
– Physical damage for fire – theft – comprehensive – collision insurance
– Uninsured motorist coverage insurance
– Medical payments and passenger liability coverage insurance
– Custom parts and Equipment Insurance

Here’s a quick guide about a few of the insurance options you may want to include in your policy:

Custom Parts and Equipment:

Should you opt for this form of coverage, you can collect up to $3,000 without any deductibles. This coverage is available up to $10,000 in custom parts and equipment.
Liability Coverage:

Speak to an independent agent to asses exactly what your true needs as a motorcycle rider is. Then, select from the offered indemnity offered by companies. You will be given a choice of plans with basic liability limits that meet the personal umbrella requisites, giving you the leeway for other coverage options as well. For the most part, guest passenger liability is inevitably included at the identical limit as your liability choice.

Medical Coverage:

This insurance covers specific medical expenses that the driver and passenger may need following an accident.

Uninsured or Underinsured Motorist Coverage:

Generally speaking, this insurance covers expenses related to injury or even death as a result of an accident that is caused by an uninsured or underinsured (or hit and run car driver). This insurance will also cover the insured if struck not behind the wheel but as a pedestrian.

For Sale By Owner: 14 Questions To Ask Yourself Before Attempting

The number one reasons for home sellers attempting to sell their home themselves is to save money or to facilitate a non-conventional arrangement with a buyer for a unique reason. Whatever the motivation, it’s important to ask yourself these questions so you have an overview of what your home sale will all entail. If you have any additional questions regarding the matter of selling your home, contact a local agent for a free consultation. Also, don’t be deterred if you don’t like the first one you are in touch with. It’s normal for a seller to “shop around” for the right agent. Buying and selling homes will be one of the most important transactions of your life and both, you and a potential agent should treat it as such.

Have you asked yourself…

1. Do you have the knowledge, time, and sales skills necessary to sell your home?

2. If a potential buyer is making aggressive offers, will you be able to negotiate strategically for yourself?

3. Do you know how to analyze the market data and comparable homes to determine the accurate value of your home?

4. Are you in the know of real estate trends that might affect the sale price and timing of selling your home?

5. Do you know how to understand a buyer’s finances and qualification for a loan?

6. Do you have concerns letting strangers into your home?

7. Are you knowledgeable enough in real estate contracts to create a legally binding contract, acquire all the necessary documents and signatures, and include counter-offers according to regulation?

8. Did you know that without a realtor, you are basically taking your home off the market every time you leave your house?

9. Did you know that many professional people and services are required to close the sale including an escrow and title company, home warranty company, pest-control and inspection services, and a lender? Do you currently have these relationships in place?

10. Do you know if you need a real estate attorney to assist this transaction, how much it will cost, and how much liability they will assume?

11. Do you have marketing experience, specifically in real estate, and the funds to allocate to your strategy?

12. Did you know that potential buyers will possibly expect you to lower your price because there is no realtor to pay a commission fee?

13. Did you know that there are advantages and disadvantages to the seller depending on which type of loan the buyer chooses?

14. Are you prepared to put in a lot of time, during evenings and weekends when it’s most convenient for potential buyers, to show your home?

Before you decide to sell your home yourself, consider the benefits a realtor can provide you that you may currently be unaware of. Because transactions facilitated by a realtor generally sell at 15% higher price points, the benefits you receive for paying your realtor their average 6% commission usually far outweigh the benefits of selling your home alone.